Vivani Medical, Inc. (NASDAQ:VANI) Short Interest Update

Vivani Medical, Inc. (NASDAQ:VANI - Get Free Report) was the target of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 358,000 shares, a decrease of 23.0% from the December 15th total of 465,200 shares. Approximately 1.2% of the company's stock are short sold. Based on an average daily volume of 121,200 shares, the days-to-cover ratio is currently 3.0 days.

Vivani Medical Stock Up 0.8 %

Shares of NASDAQ:VANI traded up $0.01 during midday trading on Wednesday, hitting $1.20. The stock had a trading volume of 76,853 shares, compared to its average volume of 111,603. The business's 50-day simple moving average is $1.28 and its 200-day simple moving average is $1.26. Vivani Medical has a 12 month low of $1.01 and a 12 month high of $7.80. The company has a market cap of $71.08 million, a P/E ratio of -2.67 and a beta of 3.23.

Analyst Upgrades and Downgrades

Separately, HC Wainwright initiated coverage on Vivani Medical in a report on Thursday, November 7th. They set a "buy" rating and a $3.00 target price on the stock.

Insider Buying and Selling

In other Vivani Medical news, Director Gregg Williams purchased 3,968,253 shares of the business's stock in a transaction on Friday, November 8th. The shares were purchased at an average cost of $1.26 per share, with a total value of $4,999,998.78. Following the transaction, the director now directly owns 4,695,861 shares of the company's stock, valued at $5,916,784.86. This represents a 545.38 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 44.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Vivani Medical stock. Geode Capital Management LLC raised its holdings in shares of Vivani Medical, Inc. (NASDAQ:VANI - Free Report) by 4.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 342,891 shares of the company's stock after purchasing an additional 15,008 shares during the quarter. Geode Capital Management LLC owned approximately 0.62% of Vivani Medical worth $401,000 at the end of the most recent reporting period. Institutional investors own 6.78% of the company's stock.

Vivani Medical Company Profile

Vivani Medical, Inc, a clinical stage company, develops various implants that treat chronic diseases with high unmet medical need. It engages in developing a portfolio of miniature drug implants to deliver minimally fluctuating drug profiles; and implantable visual prostheses devices to deliver useful artificial vision to blind individuals.